The President's Page

By C.E. Scott Brewster, CFP®, MBA, EA

Every spring, I look forward to our annual FPANY Spring Forum.  The 2010 Forum, held recently, showed why.

The chapter and the financial planning community owe a deep gratitude to Lauren Prince and her committee for putting on a world class conference, with more than 20 hours of continuing education offered.  The Spring Forum team consists of the committee members, staff and members of other committees, such as sponsorship and public relations, who work together to make the event happen on such a grand scale. 

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Annual Spring Forum Held
April 22nd

By Vera Stasny

It was a beautiful day for finance.

Spectacular views from the JPMorgan Chase Conference Center in lower Manhattan helped make for a delightful annual Spring Forum for the New York Chapter of the Financial Planning Association.

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FPA-NY Pro Bono Committee received Quality of Life Award

On June 3, the Pro Bono Committee was presented with a Quality of Life Award by the organization Working In Support of Education (Wise) at McGraw-Hill headquarters in New York City.  We reprint below a letter to the two leaders of Pro Bono from the President & CEO of Wise, and also add our congratulations to the amazing work that the committee does throughout the year.

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Getting to Know Your Board 

By Robert Wander, CFP®

This issue of the newsletter kicks off a new column that is designed to help you get to know the various FPA-NY Board Members as well as better understand their respective roles in the chapter.  Our first interview was with Scott Brewster, current President of FPA-NY.

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FPANY Public Awareness Update

By Paul Palazzo, CFP®, COA

Meet the Media

On May 18, approximately forty FPA members attended a very successful Meet the Media panel discussion.  Four members of the press gave advice on how to get the most out of your media opportunities.

Speakers and Scribes

Are you looking to grow your practice and give something back at the same time? If so, Speakers and Scribes may be just the vehicle you’ve been looking for.

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2010 Financial Fitness Workshop

By Devika Kamboh, MBA, CLTC

Exhibitor opportunities are available for the 8th annual FPANY Financial Fitness Workshop, which is expected to draw some 300 people looking for sound financial advice -- in other words, potential clients.

The all-day event will be held Oct. 2 at New York University, and is sponsored by Kiplinger’s Personal Finance Magazine and the NYU School of Continuing and Professional Studies. It will include a panel discussion led by editors from Kiplinger’s as well as Russel Kinnel, head of Morningstar Research, our luncheon keynote speaker.

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FPANY Board of Directors 2010

  • Chairman
    Clifford Michaels, CFP®, MBA
  • President
    Scott Brewster, CFP®, MBA, EA
  • President-Elect
    David Mendels, CFP®, MBA, ChFC
  • Secretary/Treasurer
    N. Jerry Palumberi, CPA
  • Director, Allied Professionals
    George L. Bischof
  • Co-Director, Pro Bono
    Anthony Canale, CFP®, MBA
  • Director, Membership  
    Katherine Fibiger, CFP®
  • Director, Events Management
    Thomas J. Gillespie, CFP®
  • Co-Director, Public Awareness
    Devika Kamboh, MBA, CLTC
  • Co-Director, Sponsor Development/Retention
    Jenifer Lee, CPA, CFP®, MBA
  • Director, Education-Practitioners
    Gail Linn, CFP®, CASL, LUTCF
  • Co-Director, Pro Bono
    Anja Luesink, MBA, CFP®, RLP®
  • Director, Education Programs
    Eli Newsom
  • Co-Director, Public Awareness
    Ronald Palastro, ChFC, CFP®, CLU, CSA
  • Director, Technology
    Chintu Pandya
  • Director, Special Events
    Eleanor Peterkin, CFP®, CIMA
  • Director, Government Relations
    Kathleen Piaggesi, CFP®
  • Director, Spring Forum
    Lauren Prince, CFP®, CFS, CDFA
  • Director, Mentoring/Career Development
    Alan Schoenberger
  • Director, Public Relations
    William J. Supper, CFP®, MBA
  • Director, Communications/ Marketing
    Robert M. Wander, CFP®, MBA
  • Co-Director, Sponsor Development/Retention
    Thomas A. Whitford. CTFA
  • Chapter Executive
    Maria T. Eckert

Meet the Board Members

National News

  • FPA Denver 2010 - October 9-12, 2010 - FPA's annual conference and exposition is the single largest concentrated gathering of financial planning professionals in the world. FPA Denver 2010 is a one-stop-resource-shop that provides high-quality education that spans learning needs, delivering both the breadth and depth of topical areas.
  • Financial Planning Days - The Financial Planning Association® (FPA®), the Foundation for Financial Planning, Certified Financial Planner Board of Standards (CFP Board) and the U.S. Conference of Mayors announced a major initiative to provide free financial education and programming to underserved populations throughout the U.S. The first-of-its kind effort is slated to involve thousands of financial planners and consumers with the support of numerous cities in a series of “Financial Planning Days” scheduled for October 2010.
  • Journal Article Says a Complex Financial World Taxes Humans Brains - Many individuals make poor investment and money decisions because the human brain developed certain functions prior to the complexity of today's financial world. That's the conclusion of author Doug Lennick, CFP®, in his article "Money on Your Mind: The Brain's Role in Financial Decision-Making," published in the April issue of the Journal of Financial Planning.
  • Spreading the Word about the Profession - Catch up on the latest FPA buzz! Don't just take our word for it – read what top newspapers and media outlets are saying about FPA.
  • FPA’s Practice Management Center - Your source for practice management solutions

Community Celebration Event

By Clare Stenstrom

On April 14, FPANY members enjoyed the Annual Community Celebration Event at the 3 West Club, where those who volunteer their time and energy for the Chapter were acknowledged and thanked.  The event was made possible through the tireless work of Anja Luesink. The evening gave us a chance to network with old friends and new members helped by a lavish hors d’oeuvre spread and beverages.  Scott Brewster, Chapter President, brought members up to date on the wonderful accomplishments of FPANY and its volunteers.  Then Clare Stenstrom, Chairperson of the Heart of Financial Planning Award committee explained the purpose of the honor.

(from L-R) Alexandra Armstrong, Chairperson of The Foundation for Financial Planning and Pitti Family members: Grace Pitti, Matthew Cerick and Barbara Cerick

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FPANY Government Relations Update

By Kathleen Piaggesi, CFP®
Government Relations Director

Compliance Update

We would like to extend a big thank you to Tom Giachetti and Stark & Stark for agreeing to provide their  compliance releases on our website and in our newsletter.  Click here for the Compliance Update.

Legislative Update

Senator Herb Kohl (D-Wisconsin), a member of the Senate Banking Committee, has decided against offering his amendment for inclusion in Senator Christopher Dodd’s financial services reform bill.  Kohl's goal was to create an independent oversight board to regulate all financial planners.

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10 Top Marketing Ideas

By David I. Leo

During my years with a wirehouse one of the consultants we worked with suggested that the particular strategic path you choose is less important than picking one and executing it flawlessly. It is a great comment! Most, if not all of us can identify with the comment in “Following Through” by Steve Levinson and Pete Greider: “We don’t have a problem knowing what we should do. The problem is that we just don’t do it!”

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Should Bankruptcy Be A Part of Your Client’s Financial Plan?

By John T. McManus

Bankruptcy is a word that usually conjures up feelings of fear and loathing for most people. They feel that filing is a result of some personal failure to handle their financial affairs correctly, and they usually consider it to be the end of the line in their financial lives. However, when used properly, bankruptcy should be considered a positive step in a financial plan, leading to a fresh start.

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CFP Students recently pass the CFP Exam

FPA-NY is very pleased to announce that the following students, Dalya Inhaber, Hristina Galabova, Anthony DeVito, Thomas Ausfahl, Rafael Infante and Rhea Friedman all recently passed the CFP exam. We extend our congratulations to them for this noteworthy accomplishment.

Communications & Marketing Update

By Robert Wander, CFP®

A hearty shout out to Paul Palazzo, a new member of the Communications/Marketing Committee, who was instrumental in producing this issue of the newsletter through his first-class editing skills.  Paul, Managing Director of Financial Planning at Altfest Personal Wealth Management, has a professional background in writing and editing, which clearly serves him well in his role on the Committee. 

I’d also like to welcome Jeff Brown, Managing Director - Advanced Planning at Fifth Avenue Financial, as another new member of our Committee.  Jeff will be reporting on future FPA events in upcoming issues and we look forward to his contributions.

Social Security

By Everett M. Lo